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Key Tax Updates November 2023

Key tax dates for November 2023 include a quarterly Form 941 requirement for nonminister employees.

Richard R. Hammar, Attorney, CPA
Bio

Monthly requirements

Key tax updates for November 2023 relate to depositing withheld payroll taxes. If your church or organization reported withheld taxes of $50,000 or less during the most recent lookback period (for 2023, the lookback period is July 1, 2021, through June 30, 2022), then withheld payroll taxes are deposited monthly. Monthly deposits are due by the 15th day of the following month.

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Note, however, that if withheld taxes are less than $2,500 at the end of any calendar quarter (March 31, June 30, September 30, or December 31), the church need not deposit the taxes. Instead, it can pay the total withheld taxes directly to the IRS with its quarterly Form 941. 

Withheld taxes include:
  • Federal income taxes withheld from employee wages
  • The employee’s share of Social Security and Medicare taxes
  • The employer’s share of Social Security and Medicare taxes 
Key Tax Dates November 2023Download

Semiweekly requirements

If your church or organization reported withheld taxes of more than $50,000 during the most recent lookback period noted above, then the withheld payroll taxes are deposited semiweekly.

What this means:

For paydays falling on Wednesday, Thursday, or Friday, the payroll taxes must be deposited on or by the following Wednesday. For all other paydays, payroll taxes must be deposited on the Friday following the payday.

Note: Large employers having withheld taxes of $100,000 or more at the end of any day must deposit the taxes by the next banking day. 

The deposit days are based on the timing of the employer’s payroll.

Withheld taxes include federal income taxes withheld from employee wages, the employee’s share of Social Security and Medicare taxes, and the employer’s share of Social Security and Medicare taxes.

Key Date: November 13, 2023

Other key tax updates for November 2023 relate to churches having nonminister employees (or one or more ministers who report their federal income taxes as employees and who have elected voluntary withholding).

These churches can file their employer’s quarterly federal tax return (Form 941) on November 13 instead of October 31. But only if they deposited taxes for the third calendar quarter in full and on time.

For complete information, consult the 2023 Church & Clergy Tax Guide by Richard R. Hammar, JD, LLM, CPA. Visit ChurchLawAndTax.com for the expert insights you need to manage tax issues with confidence

Richard R. Hammar is an attorney, CPA and author specializing in legal and tax issues for churches and clergy.

This content is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. "From a Declaration of Principles jointly adopted by a Committee of the American Bar Association and a Committee of Publishers and Associations." Due to the nature of the U.S. legal system, laws and regulations constantly change. The editors encourage readers to carefully search the site for all content related to the topic of interest and consult qualified local counsel to verify the status of specific statutes, laws, regulations, and precedential court holdings.

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